Baht on the Move: SCB Financial Markets Predicts 33.20-33.45 Baht/Dollar Today – Will the Thai Currency Hold Steady
Siam Commercial Bank Financial Market Group (SCB Financial Markets) Evaluates the Baht’s Movement
SCB Financial Markets expects the baht to move in the range of 33.20-33.45 baht/dollar on September 17, 2024.
The Thai currency remained stable yesterday before weakening this morning, depreciating faster than other regional currencies. This movement is attributed to the Bank of Thailand’s (BoT) oversight of the currency, following concerns expressed by the Finance Minister and BoT executives regarding the baht’s strengthening.
Investors are increasingly divided on the likelihood of the Federal Reserve (Fed) cutting interest rates tomorrow night, leading to increased uncertainty. The uncertainty index has reached its highest level since the 2007 crisis, excluding the COVID-19 pandemic.